Evaluating Social Media Credibility

In today's society, social media platforms play a crucial role in how people communicate and share information. Many individuals rely on these platforms not only for personal updates but also for news and educational content. However, the credibility of the information found on social media often comes into question.

Consider the following statement: "While social media can facilitate rapid information sharing, it often lacks the credibility of traditional news sources due to the absence of thorough fact-checking." Based on this statement, evaluate the implications of relying on social media for news.